Griffin Capital obtained a $47 million refinancing for 1900 Parmer Apartments, a recently-built, 364-unit midrise apartment community in Austin.
Mitch Sinberg, Scott Wadler, Brad Williamson, Matt Robbins, and Patrick Johnson of Berkadia Miami arranged the financing for Griffin. MF1 Capital provided the loan. The property was 98% leased at the time of closing.Â
Located at 1900 E. Parmer Lane, the community offers studio, one- and two-bedroom units ranging from 458 to 1,270 square feet. Apartments feature private balconies or patios with French doors, and amenities include two swimming pools with cabanas, a two-story fitness center, a demonstration kitchen, a kegerator, and a billiards table; a co-working lounge with private meeting rooms; a fireplace lounge with outdoor seating; and a social terrace with BBQ grills and a media center.
The complex is situated in Austin’s Tech Ridge neighborhood, approximately 20 minutes north of Downtown.
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